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balance. as they aim to turn its primary balance deficit into a surplus by 2020, prime minister abe has ordered them to come up with a clear road map to tackle the problem. they want to include this in the government's mid to long term economic and fiscal policies to be compiled by around june. the prime minister made the comment at a meeting of council on economic and fiscal policy held on monday. it came after council members from the private sector said in the meeting that the government's effort to make the finances healthy are essential. they said this is to ease concerns that the bank of japan is taking over the country's debt as the central bank boosts purchased. the members urge them to use funds from the private sector as well as to promote reforms on medical nursing systems. >>> bold monetary easing measures by japan's central bank are starting to have an effect on the country's constitutiinst investors. the yield falls on japanese government debt. officials reveal how to plan to manage funds for fiscal 2013 which started this month. they say they will boost their investments
the day we walked into the office to a 40 million deficit we had to renegotiate our contract and peenings for the first time and pension that happens an issue in california were part of the state system and still not ready for the shake-out on the development and so, i'll like to think it's -- [inaudible/incomprehensible] level and i think that what it gibbs you time do is to start working on some of these dreams and really give development opportunities and that is what it's like despite the evidence -- the general fund and in our economic outlet team and that we -- [inaudible] and working and -- of that and i know -- and i worked on chinese investments because we are looking at capital investment and is for the amazing growth that the bay area faces. >> yeah i talked to somebody the other day that was familiar with the san francisco budget situation and i remember looking at projections in the future and it was lower so, it seems that happy days are here for san francisco what does this give you the freedom do >>> well first of all, i would not use those phrases, but i'll say that
is that we wouldn't eliminate our current budget deficits even if we confiscated all the earnings of high earners above a certain amount. dagen: it becomes a vicious circle if you continue to raise taxes even on wealthier americans in the country. if growth slows, then the white house will want to spend more money and that's going to raise the deficit. then you look for more ways to raise revenue. one easy way around this would be -- maybe not easy but tax reform. it would make people's lives earlier in terms of filing taxes. given everything that's going on down in washington, and i think you referred to it as an unravelling in d.c., is that just completely off the table at this point? >> i don't think it's quite completely off the table. the kind of tax reform we had in 1986 where you eliminate tax references and you lower rates. president obama has tended to be against lowering rates. he wants to raise rates on high income earners. but you've got an interesting situation now. senator, the chairman of the senate finance committee, the ranking democrat now since someone has announced he'
was kind of the departure point. yes? >> well it's like a narcotic. for a while the big deficits we've had, all the money printing from the fed worked. it did stimulate the economy. we had some growth. over time it becomes habit-forming. the politicians can't live without it. vent ally it begins to... >> jon: give me some of that. it then becomes debilitating. by then -- and that's where we are when we've had the serial bubbles, the dot-com total collapse. they reflaited the bubble and everybody got on board and we had the housing boom. that was phony. the credit boom and finally wall street collapsed in 2008. they bailed it out like mad. the market collapsed. the average guy lost, you know, 50, 60%, got refried after the first time being fried. now they've reflaited it a third time. guess what? >> jon: on wall street they have we're back to where we were 4,750 days ago. if you're doing long division that's 13 years. >> jon: hold on. divide by 365. jon: you knew that before you came on here though, right? you did that in your head that's impressive >> so the point is, we're at today the sa
percent said it's the deficit and debt. now, you may have noticed, we are not seeing any legislation, not hearing a lot of talk about programs and responses to deal with these issues. and then there is, of course, health care. 6 percent. 6 percent say that is the most important issue. 5 percent say it's ethics. i have to say, 5% as a little small for me on this. the ethical and moral and family decline in this country. are you kidding me? 4% say immigration. i know what your thinking. we have seen a huge immigration bill introduced. well, 4 percent say that it's education. the number one issue in the country. and another 4 percent say guns. isn't that interesting? guns. here is what the hundred and 13 congress that succeeded at doing so far this year. they put together seven measures, seven measures, seven measures total, two of them new laws for disaster relief. to loss funding the government itself, of course. one lot to protect us from buyout terrorism and then the next, one law expanding protections for domestic violence victims and a lot rolling back a provision that would have
do for the economy and deficit-reduction and it should be high priority. >> thank you very much. i appreciate my friend, senator sessions, letting me go next. involved withre the 9/11 commission? >> yes, sir. >> i seem to recall that at least six of the 9/11 hijackers came into the country legally but overstayed their visas. they're part of the 40% today roughly of illegal immigration that occurs when people come in legally but overstay. was that a major concern of the 9/11 commission? >> actually, in my findings, most of the hijackers worked extremely hard to stay within their legal admission timeframe. you had the pilots going in and out many times but the muscle or april andkers came in may and june of 2001 to stay within the six month time frame that they had. there was only one that came in that he was given a business visa of two weeks and he was an overstay. the overstay issue like the land borders were not a big issue for the 9/11 commission because they did not become part of the story. when they became part of the story is when we insisted on looking at a pattern of activ
if they are not replaced with sensible deficit reduction policies like the ones we are proposing. >> the proposal includes $1.8 trillion in deficit reduction over the next ten years. tax increases for the wealthy and raising the minimum wage to $9 an hour. lew will testify before the senate budget committee at 3:00 this afternoon. >>> maryland governor martin o'malley's trip to the super bowl was an expensive one. according to "the baltimore sun" maryland's state police spent more than $5600 on o'malley's trip to north koreans to cheering on the ravens. money was spent on airfare, meals, vehicles, hotel rooms, and overtime. o'malyes has a taxpayer funded sky box at the stadium giving him access to eight super bowl tickets. he and his wife paid for their tickets using personal funds. the others will sold at face value to top aides and the city delegates. >>> our time is 11:49. coming up, a musical tribute to tilds. >> storm team 4 meteorologist tom kierein will be back with another check of warmer forecast. >>> we have a very special trio in the studio headed to venezuela and brazil this week to share thei
legislation reducing the deficit by $1.2 trillion is required by the budget control act. as a result of that the dod funding for fy2013 was reduced by sequestration and the amount of $41 billion unless congress acts, the fy2014 dod budget will be cut by an additional $52 billion below the funding level which is in the president's budget for fy2014 and also the budget passed by the house and senate of representatives. weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of sequestration. sequestration will have a major impact on military personnel. the pay of military personnel has been exempt it will ask them -- for troops including schools, military
to find a bipartisan way to reduce the deficit. thus far, it hasn't worked. we've reduced the debt by doing a number of different things, some $2.5 trillion worth. we've cooperated in that regard. the deep cuts required though by the sequester have failed to bring the republicans to the negotiating table to find more savings or more revenue. even after both the house and senate passed budget resolutions, the house republican leadership has refused to go to conference to work out our differences. republicans have been telling us for a long time that they wanted regular order. and we come to regular order, they don't want regular order. republicans are afraid to even be seen considering a compromise with democrats. and i speak more strongly that the republicans here in the senate are doing their objection here on going to conference more to protect the house because that applies so much more to the house republicans than it does the republicans over here. the republicans over there are afraid to be even seen considering a compromise with us. because republicans have refused to negoti
the chairman for holding this hearing today. i think as we know, we live in a time of record deficits and maintaining the right policies is important more than ever. i appreciate the opportunity to hear what the administration's priorities are for the upcoming fiscal year for both the coast guard and for noaa, and specifically i'm interested in hearing from the coast guard about the status of the recapitalization efforts. this program is vital to our national security, so i was disappointed when to see in the latest budget proposal that the effort is being scaled back and we will have a few questions on that topic. additionally, i understand the president's budget proposal shifts our navy assets in the western hemisphere to the pacific. as a ranking member on the east asian and pacific subcommittee, i recognize are the importance of and support a strong u.s. presence in that region. however, i'm going to have several questions about the reduction of our presence in the western hemisphere and the implications on this reduction on the counterillicit trafficking mission. as for the noaa
a balanced approach to deficit reduction, with spending cuts and revenue, and with everyone doing their fair share. who disagree was that, mr. speaker? we talk so much about fair share here, i can't find anyone who disagrees with fair share. i think about dr. carson at the annual prayer breakfast, did you see that, mr. speaker? dr. carson was speaking at the prayer breakfast right down the street this year. and he was telling the tale of billionaires and someone who might have made $10 billion, they were taxed at $1 million, they helped fund america and folks were complaining they didn't done enough. i have not yet been one, mr. speaker. far from it. what does it mean to do your fair share? for me it means having skin in the game. one of my great regrets, mr. speaker, is that during the bush administration for the first time in american history we cut taxes and went to war at the same time. i think that's wrong, mr. speaker. i think about all the young people who had skin in that game. my part of the world down in georgia, mr. speaker, a lot of folks are in the military. a lot of sons and ta
limiting further deficits. we have directed after our last board meeting last week that management look at every other option available once we made the vote to not go to the five day delivery on august 5th. we ask that they look at everything else available to us which would be to reopen the labor negotiations, to look at the filing of the rate case and then accelerate if possible thee procsi plants asickly as we can expeditiously deutsch. >> i recognize the ranking member. >> let's not kid ourselves, mr. dodaro. if the congress says will you to do something a certain way and the postmaster came back and said no i'm doing it my way the postmaster would catch hell i'm telling you everybody appear knows that and everybody knows that. so he was caught in a hell of a bond. and i want to go back to something that mr. bilbray said in his testimony so we can be very clear so i quote from his trends could and he said what me tell you this is a tough job we have to deal with a lot of bureaucracy in the administration the regulatory commission and congress and they are all our bosses and they tr
.70 trillion in reducing the deficit by having more people working. more people working, more people paying taxes is not a tax increase. it is deficit-reduction without a tax increase. i think it's the kind of deficit reduction that we can get bipartisan support for in the country. grow up all sorts of other issues. what about public education? public schools don't teach kids how to read english well and don't teach them american history. but that's a problem, then we need education reform. that is being worked on a state- by-state. that's a problem for kids born here as well as everybody else, in terms of the quality of education they're getting. what about the welfare system? 185 means-tested welfare programs. bill clinton worked with republican congress to reform aid to families with dependent children. we can make progress on the others as well, and reforming welfare is important and needs to be done. it saves money and keeps people from getting locked into welfare dependency. but none of those are arguments for getting in the way of immigration reform. then there's the question of enti
deficits in other states and i think it's very, very poor public policy because it's going to throw a whole bunch of administrative costs that they can't absorb. stuart: i don't mean to be -- you are a democrat. i social democrats with raising taxes and get more money coming into the state and federal government. it's a bit unusual for a democrat to oppose this big new tax. >> no, i think what democrats stand for, they stand for folks who can balance the books and handle the money correctly and spend it on things that will drive the company and this does none of the things-- it's not going to create jobs, if it does, it's jobs within the bureaucracy and put a death nell in our small businesses across the state of montana and across the country and the small businesses are a huge economic driver in the country and the biggest economic driver in monta montana. it's poor public policies. there are some states, virginia, for example, using the potential of this tax coming in for a transportation program. that's not the way that you -- that's not a good government at all. number one. and number
, but necessary in order to meet deficit targets portugal's creditors set out two years ago. the cuts will reduce spending on public sector staff, goods and services that have already been slashed in previous rounds of cuts. portugal's unemployment rate is already above 17%. on wall street today, a slew of disappointing corporate earnings reports sent stocks slipping. the dow jones industrial average lost 81 points to close at 14,537. the nasdaq fell 38 points to close at 3,166. nasa scientists announced the discovery of two new planets that appear to be capable of supporting life. the distant planets are 1,200 light years away, orbiting a star in the constellation lyra. one light year is almost six trillion miles. the discoveries mark a milestone in the search for life on other planets. the find was made possible by nasa's kepler telescope. those are some of the day's major stories. now, back to jeff. and to the latest on the boston bombing. a short time ago, the fbi held a news conference. gathered and analyzed thousands of tips... and come up with images of two persons of interest... suspects
deficit by over $10 trillion over 10 years. that is something we should think about when we think of immigration reform. i think the u.s. is out of step with its economic competitors. under 10% of immigration into the u.s. is for economic purposes. this bill makes important changes to the visa system based on more economic considerations and represents a step towards using a policy closer to other industrialized countries. a legitimate concern in all this is what will will happen to the federal budget? ivica good way to think about the budgetary implications is to start with the last piece of comprehensive immigration reform legislation congress took that into thousand seven. the cbo had the opportunity to pull out a score. it would over 10 years increased deficit by about $18 billion. it doesn't tell like a lot now but there are things to remember about the $18 billion. since that time, many of the things that were policy , there has been spending on that about half of what the cbo expected would be needed during those comparable policy objectives now maybe cheaper and generate l
fund which collects from the airlines to pay for the dod. they are running about a $4 billion deficit which comes out of general funds, ie, taxpayers. so, clearly the government in my view is a bloated, inefficient agency that is not serving the public well. these cuts are ill conceived, but they do need to cut costs or raise taxes because they cannot continue with deficit spending. so it fits in with the broader problem of the government spending basically 40 cents on every dollar. so how do you solve this problem? so the government has elected, ie, the administration directed the dot to cut the headcount basically 10%, which is going to cause a lot of delays, instead of increasing productivity and cutting pay. >> mark simone, is this just politics? >> absolutely. the government is the only thing that has something called nonessential workers? aren't there massive fund the faa has to do things like refurbish buildings or modernize airports, open new airports, can't the cuts come from something like that? that would make sense to me. >> the chairman committee, bud shuser said they cou
need to grind in out. we need to get to is a solution on the deficit and debt and that means pro-growth tax reform, entitlement reform in a way that preserves and protects medicare and social security. we need to get this done for the american people. if we do it, it means not only getting our spending under control, we will see economic growth. we will see job creation and economic growth. >> now he offered -- he showed a little bit of leg putting in his budget this issue of changing the way social security benefits are calculated and he immediately got slapped down by the head of the republican campaign committee in the house. was that productive? >> look. we've been talking about getting a process to get to a solution and it's got to be bipartisan. he he made a step in the right direction when he talked about starting to address entitlement reform and that's the problem. you've got to find a way where we can come together on a bipartisan basis and do it. his budget still had too much spending and again raising taxes, but at least he opened the door a little bit. we've got to f
targeted, smart way to reduce the deficit over a longer period of time that accomplishes the same deficit reduction without hurting the economy. i've tried to offer that proposal for an up or down vote four times this year and have not even had the ability to get a vote on that, andrea. >> mitch mcconnell said today, this is all because of the poor planning of the administration. your take on it? >> well, you've got now republicans who just a few weeks ago were cheering on the idea of a sequester. and saying that we had to make these very deep, immediate cuts, on top by the way. of cuts that we already made two years ago. very deep cuts, but cuts that are manageable. but our republican colleagues said we got to keep the sequester in place, their budget calls for a doubling of the sequester cuts in the areas of the budget we're talking about. the faa, the fbi, national institutes of health. the best way that mitch mcconnell and republicans can help us deal with this, is to support our legislation that would replace the sequester in a balanced and targeted way. >> we all hear about budget c
a balanced and responsible approach to long-term deficit reduction whereas the republican bill asks everybody to sacrifice except those at the very top and the highest incomers would get another big tax break. >> bill: any way the public can get involved in this? our listeners, our viewers? what do you do? just flood boehner's office? >> they should be calling the speaker's office and say let's do what you have said you wanted to do for the last four years. and follow the regular order and appoint conferees to a budget conference committee to resolve these differences. >> bill: and the speaker can do that. there would be democrats and republicans on it. >> that's right. the speaker gets to appoint the republican conferees from the house and then, of course, the democratic leader appoints the democratic conferees same process goes forward in the senate. >> bill: the problem is, isn't it they really want it one way meaning all spending cuts, no revenue whatsoever. >> that's right. the interesting thing -- >> bill: not even closing tax loopholes. >> that's right. >> we've seen what has happened
aancedproach to deficit reduction and strengthen the middle class. as i said, last week our focus in the next little while will be on guns and budget, talked about budget. i will be joined by my colleague, congressman mike thompson of california. congressman thompson is a vietnam vet, a wounded vietnam vet. he is a gun owner, hunter. is the head of our task force on gun violence prevention, and he is a co-author of the bipartisan bill in the house with peter king. to put forth a manchin-toomey compromise that failed, so sadly, in the senate last night. we are so disappointed. our sorrow was expressed so appropriately by president obama last night that i invited mike to join us here to tell you where we go from here and to answer the question that people are saying what can we do to change this. mike, would you speak -- thank you for your leadership. >> thank you, leader pelosi. it's a pleasure and honor to join you, to talk about and to answer any questions that you guys may have on gun violence prevention. -manchin amendment that failefailed last night, as i thk everybody knows. it was every
them, that's a deficit for all of us. >> thank you very much. >> okay. seeing no further questions, thank you. >>> thank you. >> patrick, i'm sorry. i probably misheard you. you wanted to speak on behalf of patricia webb? >>> and kelly. maybe i didn't identify myself. >> no, i wasn't -- >>> i'm the executive assistant at the ihss public authority and i also serve as the staff liaison to the board. kelly dearman is the dhs, department of human services commissioner on our board and has been for several years. she has run her own elder law -- elder issues law practice and worked for the s.f. city attorney's office representing child welfare workers. she's very articulate and knowledgeable about budget and finance matters and has made a valuable contribution to our board. and i just wanted to add she has the full support of her fellow board members and the public authority. trisha, you may have read her e-mail, but due to the current state of her disability, she's pretty much confined to her apartment. we teleconference her into all our meetings. she served on the san francisco public
at the balance between spending and revenues, it would, over 10 years, increased deficits by about $18 billion. $18 billion does not sound like a lot now, in the context of trillion dollar deficits year after year. i think that there are two things to about that $18 billion. since that time, many of the things that were policy objectives, border security and e verify system and other pieces of the infrastructure, there has been spending on that about half of what they did would be needed has happened. this comparable holocene objectives may be cheaper and generate less in the way of spending. the second thing that has happened has been that cbo did not use dynamic scoring. it does not take into account the potential economic growth effects that would take -- change the impact entirely. the last piece of what has happened, since that score, the congress has passed and the president signed the affordable care act. of this legislation is there is a bipartisan commitment that those who would become registered immigrants who were there legally would not be eligible for benefits. probably not for 15
'm not inequality is caused by people's emotions or feelingings about themselves or a deficit of hope, but that said, one of the students who i wrote about, one of the smartest people i'd ever met, and she simply could not imagine himself ever going to college, and it was not that he had a grand plan for life as an alternative that phac neighborhooded him or that he but his sister even offered toh, gym of give him a money to go, but based on his own life experiences and those of others around him, he just couldn't make a leap of faith. wrote in the book in the most democratic societies, it wields destructive power, one that evades the mind and destroys it. i think when we think about structural inequality, we think of the practical implications, but we also need to think about its psychological implications because though are less easy to see and ultimately harder and complicated to come back. so that will wrap it up and take questions. [applause] >> sarah, thanks. i know you've been covering education for many years. at what stage did this turn into a book for you? did you come out after katrina th
deficit. spain's gdp to debt ratio is now 10.6% of gdp. stephane pedrazzi is in madrid. stephane, look, these numbers certainly raised some concern yesterday, but at the same time, we're looking at the ibex this morning. even after the ibex and bank of spain came out talking about a contraction in the first quarter rallying 1%. what's going on? >> it looks like the markets and the bond market on the market share changes. they think on a different budget policy. we will have the details at the end of the week. but the spanish government will have more time to reduce its public deficit to 3% of gdp and that will give a little bit of margin to implement some growth incentive measures. because it's the main problem right now. the country has been in a recession for two years. the unemployment rate is rising again 26%. a bit more than 26%. so the priority here is to revive economic growth in order to improve the labor market. and that's really the key focus for the government. so the country will have a bit more time to reduce its public deficit. then it will be able to implement some growt
. and then going back down to the bottom. back from a 90 point* plus deficit. a 95 point* swing we hold on for the last few minutes. can we? we are watching every tick of the way. . .. this is america. we don't let frequent heartburn come between us and what we love. if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec c and don't g heartburn in the first place! [ malennouncer ] e pill eachmorning. 24 urs. zero heartbur bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some plannining aneffort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td amitrade. is. liz: right now with just a couple of minutes left for the markets, we have a couple of 52-week highs. we need to show them to you right now. they are probably wildly held names you hold in your portfolio. everything from mcdonald's to proctor & gamble
using cbo rules of thumb, deficits by about 2 1/2 trillion dollars over 10 yea and that's clearly a bene that we ought to think about when we think ab immigration reform and not rely on those efforts which ignore economic owi think that the u.s. is out of step with i economic competitors in tt it does not use immigration policy as a tool of economic policy, under 10 percent o immigration into the u.s. for econ purposes. this bill makes important changes toheisa system, basing them more on economic considerations and represents a step toward using a policy mix that is closer to other industrialized countries. a legitimate concern in all of this is what will happen to the federal budget. it's a concern that i have been close to for a long, long time. and i think a good way to think about the budgetary implications is to start with the last piece of comprehensive reform legislation that congress looked at in 2007. the cbo did have the opportunity at the time to put out a score. that score indicated that if you look at the balance between spending and revenues, it would, over 10 years, incre
.s. system and they say in the long run, it's very beneficial and will help bring down the deficit in particulaou n who will be testifying before the judiciary key this morning. he found the deficit ceiling will come down for trillions of dollars. his study found $2.5 trillion because when people become legalized, they will start paying taxes and they'll also have to pay back taxes, fines and fees through part of this immigration system. so that means they're not going to be coughing -- costing taxpayers money to go through this process and as many economists believe will raise the quality of life. host: the senate judiciary committee takes up the immigration bill this morning. c-span 1 will have that live. you'll also find that on our website. rebecca kaplan is a staff writer at in the national journal. it includes covering the campaign looking at the republican side of things. she worked on that and she also has covered the white house, as part of national journal's team and now she's looking at congress. one of the aspects of congress you're looking at is the house. here's a rec
in government must share in the sacrifice to some extent required during this deficit. our secretary seems to have taken this message to heart. he is identified $1.3 billion in savings this year and more than $4 billion since 2009. he continues to move from a risk-based approach and it effort to save more money. i'm happy to see this budget proposes a much-needed increase for cybersecurity, which will help the department with cyber responsibilities. additional resources to get the job done, but is why bipartisan legislation to complement the present executive order will address the cyber threat as one of our highest priorities. the continued commitment to securing our nation's borders while maintaining staffing patrols and adding more than 3400 customs and border protection officers to staff our ports of entry. can beritical resources done with modest fee increases. in arizona, secretary napolitano -- ienator mccain join me heard from local business leaders and front-line officers that they need more help at the ports of entry. i anticipate when a visit in fors april 30 and may 1, anyone i
forward a comprehensive balanced approach to deficit reduction to eliminate the sequester, but this is congress' responsibility. it needs to take action. >> there is a couple of bipartisan group of senators making proposals. senators says the administration has the right to prioritize spending, and the senator suggesting the furloughs are postponed to give congress another chance to revisit sequesteration, other senators, republican and democrat, asking the transportation secretary and head of the faa if they might be able toe move money around. what's your response? >> well, a couple things. one, i think the fact that various lawmakers suggest remedies confirms what i said, which is only taking action to the result of the sequester that republicans insisted take place, but let's be clear about the faa cannot take because of the way the budgets are structured and the way the law imposing the sequester is written. they are required by law to cut about 1 billion dollars between now and end of the september. that's 637 million from the faa. the faa initiated a series of cost
pension deficits worse and make corporates less likely to invest. they backed themselves into a corner here. >> what's your take? >> i do think that qe has helped the economy over the past four years. our own view is you get diminishing returns to each slug of qe as you go along. we suspect in due course that we'll get another expansion of asset purchases which at the margin may help and there may be psychological boost to markets but the other things to watch out for are the success or otherwise of bank of england's funding for lending scheme which we're relatively hopeful will help to expand the supply of mortgage credit. >> it doesn't seem like it's done much frankly. >> it's a slow burn. the last couple of months of data have been disappointing but through the back end of the second half of last year what we saw was a steady increase in mortgage approvals and that's helpful. the other thing to watch out for is what's happening to the small business sector. we have been calling for some sort of government if not bank of england action to help channel those credit flows to small busi
, attention deficit disorder. we saw this up 1 1/4. stuart: thanks, nicole. now check the price of gold, please, up just a little after the crash yesterday. $22 higher yesterday's decline more than in decades. and joining us the coin president. i should say, everybody, this man does not buy or sell gold, he reports on it. he's not grinding any ax. david, welcome back, good to see you. >> good to see you, stuart. stuart: i'm putting myself in the the position of someone who is a small investor and they own a gold coin. i put it to you, if i go back to my local coin dealer in a down market where the price is plunging, i'm not going to get a good price for my ounce of gold. if the spot price is $1300 an ounce i'm going to be lucky to get 1150 for that thing, aren't i? >> not at all. gold trades very regularly at or near the spot price, worse case scenario, you can get 95% for virtually any gold coin it ends up going back to a smelter. gold continues to maintain its value, as it goes up in value. >> our studios are on 6th avenue here in new york, literally across the street is 47th
's hamilton? right. american history for $600. gary. what's a debt? no. jamey. what is a deficit? no. budget def--
from boston later on today, and you can get instant updates from her around the clock on deficit are by following her on twitter. if you would hike to show your support you can by sharing a get well soon badge on your facebook page. >> developing news, an east bay woman is in surgery right now after being shot while sleeping in her living room this morning. someone shot into her hayward home at 12:30 saying neighborhoods her the shots being fired and saw a car driving appear but police are not sure if the car is connected to the shooting. the woman is in her mid 20 and is expected to survive. >> happening now, san francisco authorities are looking out for two escapeees from a juvenile facility near twin peaks. there was a break out around 10:00 last night at youth guidance center. officers searched through the night but have not released information. >> all lanes are clear on highway 101 through marin county after a man was struck by two cars if san rafael at 8:30 last night. c.h.p. says he was walking along the freeway and stepped out in front of a car. a second car also hit the
in this attack, what advice you might have. oh, i don't know. it's just -- it's a long process. it's deficit stating. with the attacks in boston, we don't know where the next attack will be. also, with the letters coming to washington this week and senator's office in phoenix where i live now. they are trying to find holes in our security. for the administrator to suddenly decide that one week from today is a good idea to allow knives on every airplane in the united states is a terrible idea. it's a slap in the face to 9/11 victims and also to just america in general. we were all affected that day. this is not just about me and not just about 9/11 families. yes, it brings back horrific memories for us and the long process it's taken to get over it it's about all of us, the general public. >> neil: rebecca, thank you very much. >> thank you. >> neil: we'll have more. [ tires screech ] [ beeping ] ♪ [ male announcer ] we don't just certify our pre-owned vehicles. we inspect, analyze and recondition each one, until it's nothing short of a genuine certified pre-owned... mercedes-benz for the n
growth and reducing debt and deficits that are contemporaneously. >> well, i think the first thing that they could do is have a really serious plan about reducing government expenditures as a percentage of gdp. taxes mater, inflation matters, but the truth is, when government is spending too much of the auto production and the economic system the growth rate declines and this is throughout the world history. so are really serious plan to reduce government expenditures would create a lot of confidence in the business trinity. secondly, he's a rollback the crazy onslaught of regulations across every industry which is stifling innovation and creativity which is exactly what we need right now. example in the banking industry. dodd-frank pier reasons that law as passed there has been no renovation of one of the largest industries in the united states, which is actually reducing. lou: i have to say the you, how much money do you want these people to make? am looking at the numbers coming in other earnings. if we have regulation, how much money could be made? it is scary to even contempla
going viral in deficit sites and difference infusion places pick those up, we'll take that information and then it ends up leaking back to the newspaper and comes out in one big circle. >> pictures start on the internet and law enforcement officials pass them internally and leak back into the media. the next thing you know a 17-year-old who runs track on high school is in a viral internet presence and law enforcement chatter and onto the cover of the "new york post." to be clear, the impossible poor judgment of the editors of the "new york post" was not the only reason this kid's picture was in the world associated with the bombing. what i saw on the front page of the post was not the first time i've seen this particular picture. the reason i saw it before was because i fell down a rabbit hole at 11:00 and browsing a page in which internet users had come together to do the vigilante work of sifting through the publicly available pictures of the marathon. it struck me sitting in the cold nightlight of my laptop we have so many images of this event everyone was turning over to authoritie
. that means we're using deficit and regaining increasing competitiveness. becae a lo member states underestimated in the first years of the common currency that the pressure on competitiveness in the common currency resulted possibility of devaluation. it's huge. and if you don't improve your competitiveness, you will get major problems. it has happened in -- you will not feel it in the first years, but it will happen. and it did. therefore, we always have to -- [inaudible] member states, oblige member states to stick to european rules in, of course, a balanced way to enhance their competitiveness by structure reforms, and then we can, we have built a european mechanism through different systems to buy time until they regain access to financial markets. this worked in ireland, in portugal. in fact, in the last year we increase, by the way. i think it will work in cyprus as well. and if you look at the -- [inaudible] we have halved the national deficits in the eurozone in the last three years. delivering our commitment, by the way. we have halfved the difference in the -- halved the
with a lot of scholars and it's a significant cost at a time when our debt and deficit are taking us over the cliff. >> neil: is it your sense, senator, that this is falling apart? i don't know whether related to boston or not. but is this following on its own weight? >> temporary trying to rush it through in a hurry, and they -- today before anyone opposed to the bill had a chance to be a part of that, and now they want to rush through markup. that means they do the amendments in committee. don't know if it's falling apart or not, burt it should -- but it should. they want this to go through before americans know what is really in it. >> neil: let's say it is falling apart and the gang of eight, whoever they are -- republicans and democrats who cobbled together what they say was 0 nonamnesty immigration reform. you say, good riddance, rip up and start from scratch. because they're saying this is the closest we have ever come or ill will if come. >> we shouldn't do the am necessary city first. that's the problem because we cannot trust the congress to create a workable plan. so the worst
be a peace dividend, where we cut the budget deficit, that happened in the '90s. i don't think you should look at this issue in a way to make money off it, though. it's really not a needle-mover. as a matter of fact, it can be negative for a lot of the defense companies, as we know. and they have been under a cloud because of these cuts. here's one from danny in new york. hi, jim, i have heard you say considering the downside of an equity that you would short a stock rather than buy a put. please elaborate. danny, i am so glad you sent me this. because if i have created any misperception that i favor shorting stocks, it is completely out of character with all my books and what i used to do with my hedge fund or trading for myself. i always do puts. i very rarely do shorts because as i write in "confessions of a street addict," i was a victim of a lot of squeezes that lost me a ton of money. use puts. here's some tweets, from b kelly, 01 not @jim cramer. covered calls, why do you hate them so much? here's the answer. i got to tell you something, b kelly 019, i hate trapping my upside, i ha
the economic crisis, he was quick to compare mathematically the size of the deficit to the point in which -- a way in which he said it wasn't that much worse than during ronald reagan's period. so he's sensitive. >> david, let me ask you this. i noticed that former president bush is going up in popularity. it was -- he was at in a poll 23% in october 2008. now he's up to 47%. now, is that because people haven't seen him a lot? >> yeah. >> does absence make the heart grow fonder here? >> yeah. his popularity went up when he disappeared and started doing pictures and portraits of dogs and himself taking a shower. >> you wrote the book reminding everyone of president bush as he provided over the country. >> you know, you know this, reverend al. history is always a fight. it's always a struggle. we go back and forth. and, you know, bush was probably good pr advice. pretty despised when you left the presidential office. a majority of americans actually believed he had lied the country into the war in iraq. not just that it was a mistake, but he purposely said things that were false to get the
days for property taxes and nine days for corporate income taxes and what about the deficit? he will have to work until may 9th.
account deficit problem. what they have done is, they have removed the incentives to loan money to buy gold because that wouldean selling the currency while importing more gold. melissa: okay. let me,appening onon, let me stop you there. steven, we're supposed to be talking about oil and we're not. that is very telling because gold is at the forefront of everyone's mind in this breakdown really seems to be something significant to a lot of people and a lot of investor we saw the first segment we did as well. they wanted to talk about gold. if gold breaks down, steven, what happens from there? what does that mean to you? what doe it mean for oil? what does it mean for stocks, the rest of the economy? >> at this point from an economic standpoint it means further weakness because we're not prying in any inflation right now and seems to be the further. to his point with regard to cyprus selling potentially eece, who knows, maybe even italy, this is a poor inditor for future growth. now when you look at how many people are long gold, a lot of that selloff yesterday in the market was for mar
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